(Reuters) - Dick's Sporting Goods was nearing a deal to buy rival footwear retailer Foot Locker for about $2.3 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The companies have discussed a deal at $24 per share for Foot Locker, the report said. That would represent an 86.5% premium to the stock's last closing price.

Shares of Foot Locker surged 62.32% in extended trading, while Dick's Sporting Goods was down about 5%.

The deal could be finalized as soon as Thursday, the report said.

The companies did not immediately respond to Reuters' requests for comment.

(Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar)